The Freehold 16-unit Vicenta Lodge, located on Lorong Marzuki in Kembangan, was sold enbloc via a private treaty for S$27.2 million, in March 2022.
The development was first put up for sale for S$33.6 million in 2018, which was lowered to S$29 million when it was offered for sale in April 2021 before its last attempt at S$27.2 million on 10 Feb 2022.
The sale price translates to a land rate of S$968 per square foot per plot ratio after factoring the bonus balcony space and development charge.
Sale price translates to a land rate of S$968 per square foot per plot ratio
17 March 2022
FREEHOLD residential development Vicenta Lodge, located on Lorong Marzuki in Kembangan, has been sold via a private treaty for S$27.2 million, said PropNex Realty on Wednesday (Mar 16).
The 16-unit development had been relaunched for collective sale in February, at a reserve price of S$27.2 million. The latest tender closed on Mar 10.
The reserve price had been lowered from S$29 million, when it was previously offered for sale in April 2021. Prior to that, the property had been put up for sale at S$33.6 million in 2018.
The sale price translates to a land rate of S$968 per square foot per plot ratio after factoring the bonus balcony space and development charge.
The 21,281 square foot (sq ft) site is zoned for residential use with a plot ratio of 1.4 under the Urban Redevelopment Authority's Master Plan 2019. It has a gross floor area of 29,794 sq ft, which can potentially be developed into 27 units with an average size of 1,076 sq ft.
9 Feb 2022
FREEHOLD residential development Vicenta Lodge, located on Lorong Marzuki in Kembangan, will be relaunched for collective sale with a reserve price of S$27.2 million on Feb 10, said PropNex Realty on Wednesday (Feb 9).
The reserve price for the 16-unit development has been lowered from S$29 million, when it was offered for sale in its previous tender in April 2021. Prior to that, the property had also been put up for sale at S$33.6 million in 2018.
The 21,281 square foot site is zoned for residential use with a plot ratio of 1.4 under the Urban Redevelopment Authority's Master Plan 2019. It has a gross floor area of 29,794 sq feet (sq ft), which can potentially be developed into 27 units with an average size of 1,076 sq ft.
Its reserve price of S$27.2 million translates to a land rate of S$983 per square foot per plot ratio (psf ppr) without factoring balcony space, or S$968 psf ppr including the 7 per cent balcony space.